#105 📢 Sports M&A in 2024: $37 Billion in Dealflow

In partnership with

News, features & insights from the world of Sports Tech & Biz. Every Week.

Published last week, our latest Sports Tech VC Report is definitely making the rounds and getting a lot of (much appreciated) positive feedback. If you haven’t downloaded your copy yet, and missed our webinar earlier this week, then you can find links in this edition + summaries of the latest trends highlighted—to pique your interest.

As always, have a great weekend!

Latest Trends in Global Sports Tech 2024

Those are just some of the top deals in Sports in 2024. And we’ve already seen more since our data cutoff on Sept 30.

The Philadelphia Phillies raised ~$500 million, valuing the MLB team at near $3 billion. While Endeavor is selling OpenBet and IMG Arena Sports in a $450 Million deal, which “is a necessary step” for the closing of the proposed Endeavor take-private deal with Silver Lake.

Those two stories are just in the last week! Sports M&A is hot hot hot 🔥

Here are excerpts from our latest Global Sports Tech VC Report 2024, highlighting the main trends shaping the sports tech landscape. 

1. M&A in Sports: $37 billion+ in M&A deals in 2024 

This is a major factor when we refer to strong tailwinds and macro drivers that make us optimistic about the growth of Sports Tech: it's because sports itself is growing—and in a big way.

The industry is attracting larger deal sizes and driving mega M&A deals. Deals spanning sports teams, media agencies, broadcasters, and other orgs demonstrate the breadth of this appetite. Happy days for transaction services providers.

2. Solutions for Fans: 65% of Total Investments in 2024 

41% increase compared to 2023 As we emerged from the pandemic, it became clear that during times of crisis, sports turn to their fans.

Immersive experiences and ticketing have been the primary focus of this investment. Interestingly, about two-thirds has gone towards B2B solutions, shifting the responsibility back to sports teams to drive fan behaviour as they see fit. 

3. Athletes Lead: As investors and founders 

The list of names rolls off the tongue effortlessly: Magnus Carlsen, LeBron James, Cristiano Ronaldo, Rafa Nadal, Harry Kane.

No, we're not talking about attendees at a major sports awards ceremony—we're listing athletes involved in SportsTech startups in 2024, either as investors or, in some cases, as founders themselves. We've been discussing this trend across our channels for a while, and it's not slowing down. In fact, we expect to see more of this as contracts grow larger and athletes become increasingly business-savvy.

⚡ LIMITED TIME OFFER: The PRO edition of the Global Sports Tech VC Report 2024 also includes a 1 year FREE access to the SportsTechDB PRO.

Upcoming Event: Paving the Path for Growth at SPORT MARKE MEDIEN in Munich

Held in Munich on Dec 2-3, this year’s premiere of SPORT MARKE MEDIEN focusses on the future of sports investment, data, and the latest technological advancements. Hosted in cooperation with ISPO, several panels provide a platform for investors, industry leaders, and innovators to discuss how to shape the next era of sports business with the help of data and technology.

Panels cover topics such as “Sports Tech as a catalyst for growth”, “AI and the future of fandom”, “Retailtainment: Reinventing retail through sports”, “Data-driven club and sponsorship management” and more.

Get a 20% discount on your ticket with the promo code SMM24_SportsTechX.

The future of presentations, powered by AI

Gamma’s AI creates beautiful presentations, websites, and more. No design or coding skills required. Try it free today.

Top News from the World of Sports Tech & Biz

⚽ FC Barcelona announced that they have reached an agreement with Nike over a new €1.7 billion kit sponsorship deal, that consolidates Nike as a Main Partner of the Club and Official Technical Partner across all professional and amateur teams.

🏈 Virtual Sport Technology integrated Ticketmaster into NRG Stadium in NFL PRO ERA 25, delivering an interactive experience to players and fans in partnership with StatusPRO. 

💪🏽 Whoopi Goldberg is set to launch the first global women’s sports channel, All Women’s Sports Network (AWSN). In her words - "Everything from soccer, basketball, tennis, cricket, curling, you name it — if a woman is playing it, we're showing it."

💸 EasyGroup announced the launch of new online sports betting brand EasyBet, developed in partnership with betting exchange Matchbook. 

🏎️ NASCAR’s Managing Director of Technology, Patrick Carroll, recently highlighted three AI-driven innovations developed by his team this season: Generative AI for real-time lap updates and periodic race summaries, the ‘Leader’ camera—an AI-powered viewing experience, and the ‘Most Popular’ camera view, which tailors its focus based on race dynamics and fan interest.

🏎️ The Aston Martin Aramco F1 Team announced the launch of a limited run of premium F1 racing simulators, created by Memento Exclusives.

🏈 Netflix announced that it has already sold out of all its commercial inventory for the NFL Chiefs-Steelers and Ravens-Texans game on Christmas day. 

🏎️ IBM entered into a multi-year agreement to become the official Fan Engagement and Data Analytics Partner of Scuderia Ferrari HP, starting in 2025.

⚖️ Financial investigators had searched the offices of France's LFP professional soccer league and the private equity fund CVC Capital, after an allegation of misappropriation of public funds. 

Money Talks:

💰 Bluestone Equity Partners announced a major investment of $21 million in Volo Sports to further its expansion.  

💰 Hoopers, the Portuguese startup that connects fans, brands, and basketball players, announced a new €2.1 million ($2.3 m) seed funding round, led by Buenavista Equity Partners. 

💰 Coopah announced a £1.5 million ($1.9 m) seed round fundraise led by Redrice Ventures, Active Partners and London Marathon Events. 

💰 Boldfit, a fitness brand, backed by cricketer KL Rahul, raised Rs. 110 crore ($1.3 million) in its latest Series-A funding from Bessemer Venture Partners.

💰 Endeavor agreed to sell OpenBet and IMG Arena, its sports gambling and technology businesses, in a $450 million management buyout backed by Endeavor chief Ari Emanuel with participation from OpenBet CEO Jordan Levin and other execs.

💰 The Philadelphia Phillies recently raised close to $500 million in capital from three new investors raising the team’s value to around $3 billion

🤝 Fastbreak.ai, an AI-driven scheduling solution for the sports industry, announced its acquisition of SEQL, an innovative sports impact company, for an undisclosed amount.

🤝 US finance and technology firm PEAK6 Investments, acquired a minority share in Fosun Sports, the holding entity that operates Wolves and its associated brands and businesses.

🤝 Liberty Media Chairman John Malone predicts a significant surge in sports media M&A activity under the new leadership in Washington, D.C.

Latest from our channels

🔙 STX Article: The Rise of Esports- Transforming the Future of Competitive Gaming.

✅ STX Monthly: Last month’s sports tech dealflow, in case you missed it.

💪🏽 SportsTech AllStars Recap: Innovation in Broadcasting Tech